An Example of a Nominal Account Would Be

question 83

Multiple Choice

An example of a nominal account would be

• A) Allowance for Doubtful Accounts.
• B) Notes Payable.
• C) Prepaid Expense.
• D) Cost of Goods Sold.

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Definitions:

Two-Income Households

Households in which two adults generate income through employment, contributing to the family's total earnings.

Entrepreneurship

The act of launching, managing, and developing a business venture in order to gain profit by taking on financial risks in the corporate world.

Entrepreneurs

Individuals who create, organize, and manage enterprises, especially businesses, usually with considerable initiative and risk.

Mistakes

Actions or decisions that are wrong or inaccurate, often resulting from bad judgment or a lack of information.